Many businesses often need to pay more attention to this aspect of their financial operations when managing bank fees, primarily because dissecting bank fee structures is time-consuming and complex.

However, businesses must prioritise understanding and managing their bank fees effectively. 

Understanding the Types of Bank Fees

Bank fees can be categorised into several types, each associated with different banking services and transactions:

  • Transactional Fees: These are charges for specific actions performed on the account, such as wire transfers, ATM withdrawals, and cheque processing. They are typically fixed amounts charged per transaction.
  • Account Maintenance Fees: Many banks charge monthly or annual fees for the upkeep of corporate banking accounts. These fees cover the administrative costs of managing the accounts.
  • Overdraft Fees: When a company spends more than what is in its account, the bank covers the difference, and the company incurs an overdraft fee. This fee can be substantial depending on the bank’s policies.
  • Service Charges: These include fees for additional services like online banking, specialised reporting, and customised financial advice.
  • Late Payment Fees: If loan or credit repayments are not made on time, banks may charge late payment fees.

Foreign Transaction Fees: For businesses dealing with international transactions, banks often charge fees for currency conversion and handling international payments.


Corporates with numerous bank accounts or multi-national organisations

For businesses that manage a large number of bank accounts, especially those operating across different geographies, the complexity and variety of bank fees can increase significantly:

  • Bulk Transaction Fees: Corporates with high volumes of transactions might face bulk transaction fees, which are charged for processing large numbers of payments simultaneously.
  • Inter-account Transfer Fees: Moving funds between different accounts within the same bank or across banks can incur inter-account transfer fees.
  • Analysis Fees: Some banks charge for detailed analyses of account activities, especially when multiple accounts are involved, to provide businesses with insights into cash flow and fee structures.
  • Integration Fees: Fees may also be applied to integrate bank accounts with a company’s internal financial systems or third-party financial management tools.


How to manage bank fees

When managing bank fees, businesses must consider several key factors to optimise their financial operations effectively. Here are some essential aspects to keep in mind:

  • Transparency and Understanding of Fee Structures: Corporates should strive for a clear understanding of the fee structures associated with their bank accounts. This includes knowing what fees are charged for specific services, how they are calculated, and under what circumstances they are applied.
  • Regular Reviews and Audits: Businesses must conduct regular reviews and audits of their banking fees. This helps catch any errors or overcharges and ensures that the fee structure aligns with the company’s current banking needs. As business operations evolve, so too might the need for different banking services, potentially leading to different fee structures.
  • Relationship Management: Building solid relationships with banking partners can lead to better terms and reduced fees. Effective relationship management can give businesses leverage in negotiations and access to better-customised banking solutions.

How TreasuryONE Helps Businesses Save and Build Better Banking Relationships

TreasuryONE offers a specialised service that transforms how companies manage and understand their bank fees. By leveraging advanced analytics and financial expertise, we help businesses identify discrepancies in their bank fee structures, which can sometimes go unnoticed. This analysis includes a thorough review of transaction logs and fee schedules to ensure that charges are in line with agreed terms and industry standards.

TreasuryONE’s service provides strategic insights that enable businesses to negotiate more favourable terms with their banking partners. With a clearer understanding of the fees being charged and more transparent reporting, companies can engage in informed discussions with banks, leading to optimised fee structures and enhanced banking relationships.